1st Deal, Jacksonville FL
Hey BP,
Just closed on my 1st deal, 3/2 1300 sq ft SF in Jacksonville. Paid $25,500, will cost $18,000 to rehab, ARV $65000. I'm using the BRRR strategy. Average rent price for similar homes in the area is $800-$850. Rehab will take 3 weeks to complete.
I created an LLC (Wynn Investment Team LLC), opened a business account and plan on rolling all properties under the LLC. My goal for this year is to add 3 rentals to the LLC. Looking to purchase another rental as soon as i can. Currently looking into a 4 plex.
Thanks to everyone here on BP who has helped me along in the process of completing the first deal. I will post updates when complete with rehab.
If anyone has any contractor, electrician, handyman, a/c, cap, harmony lender references, please PM me. Additionally, if anyone has any questions about my deal or if i can help in any way, pm me, not a pro yet, but I'm willing to help if I can. Thanks again everyone!
-Dan Wynn